Latest finance news – Page 91
-
NewsSeasalt hails ‘outstanding’ full year as sales and profits boom
Cornish fashion brand Seasalt has posted a hike in sales and profits for the full year to January 29, 2022, which it credited to the success of its in-store and online performance as well as its “successful third-party relationships”.
-
NewsZara owner Inditex profits and sales continue to thrive
Spanish fashion giant Inditex posted an increase in profits and sales in its first quarter, which it credits to a positive performance across “all geographical locations” and its spring/summer collections resonating with shoppers.
-
NewsBoots chief financial officer quits after five years
Boots chief financial officer Michael Snape has quit his role after five years, a year after its US parent Walgreens Boots Alliance halted plans to sell the business.
-
NewsPepco sales rise as growth strategy progresses
Pepco has reported an increase in sales and revenue as trading remained strong due to its “strong progress against strategic objectives”.
-
NewsN Brown profit and revenue decline driven by ‘challenging online market conditions’
N Brown has posted a fall in revenue, which it says reflected “challenging online market conditions” as inflation took its toll on customers and costs.
-
NewsAsda’s assets used to fund EG Group UK and Ireland takeover
Asda’s takeover of EG Group UK and Ireland is reportedly being funded by the sale of the supermarket’s assets.
-
NewsAsos approached in £1bn takeover
Asos was reportedly approached for a £1bn takeover bid by Turkish fast-fashion retailer Trendyol.
-
NewsAuthentic Brands Group adds Hunter to portfolio
US private equity-backed Authentic Brands Group, which owns Reebok and Ted Baker, has completed the acquisition of Wellington boot brand Hunter.
-
NewsLululemon sales soar in ‘solid start to the year’
Lululemon has reported a net revenue increase of 24% to $2bn (£1.6bn) as shoppers snapped up its high-end yoga gear and activewear.
-
NewsRevolution Beauty revenues slip as it navigates accounting scandal
Revolution Beauty revenues have slipped as the brand continues to navigate an audit investigation that revealed “unacceptable” business practices.
-
NewsDr Martens sales top £1bn but profits drop
Dr Martens sales have reached £1bn for the first time, but profits tumbled and “operational mistakes” in the US impacted its performance.
-
NewsCotton Traders hails ‘most successful financial year to date’
Cotton Traders has reported its “most successful financial year to date” for 2022, as turnover reached a record high for the British heritage fashion retailer.
-
NewsWHSmith improves profit expectations as momentum continues across travel
WHSmith has further improved its expectations for the full financial year as travel continues to perform well ahead of peak trading season.
-
NewsB&M delivers mixed results as profits decline and revenues rise
B&M has reported a dip in profit as well as growth in revenue and its chief executive says it has battled with “major economic headwinds” and “material cost pressures”.
-
NewsWarm bank holiday weather boosts sales at Homebase
Homebase says warm weather over the bank holiday weekend has resulted in its biggest sales week since Easter last year.
-
NewsGovernment price cap plans ‘will not make a jot of difference’, BRC warns
The British Retail Consortium (BRC) has warned that the latest government plans to introduce price caps on basic food items in a bid to tackle the cost-of-living crisis will “not make a jot of difference to prices”.
-
NewsFood inflation eases but prices still lingering at near record highs
Food inflation in the UK slowed from April’s record-breaking rise – but was still up by more than 15% year on year in May.
-
NewsAsda says £2bn EG Group acquisition will create ‘new value-led consumer champion’
Asda has confirmed the acquisition of EG Group’s UK and Ireland operations for £2.27bn and said the move will create a “new value-led consumer champion”.
-
NewsAsda to finalise £10bn merger with petrol stations group EG
The owners of Asda and petrol stations giant EG Group are set to finalise a £10bn merger of their operations, according to reports.
-
NewsAsos refinances and seeks £75m from investors
Asos is looking to raise £75m in cash from shareholders and it has refinanced in an attempt to strengthen its balance sheet.